BT Group has agreed to sell its financial technology unit, Radianz, to US-based Transaction Network Services (TNS), a move that not only marks a strategic shift for the British telecom giant but also significantly reshapes the competitive landscape for global financial network providers. The deal, announced Tuesday, is expected to close in the first half of 2026.
Radianz, a cornerstone of financial market infrastructure for over two decades, operates one of the world’s largest secure networks, connecting thousands of brokers, exchanges, and clearing houses. Its acquisition by TNS, a strong player in its own right, creates a new powerhouse in the sector.
The sale aligns with BT’s ongoing strategy to streamline its business and concentrate on its domestic UK market. “Today’s announcement is another key milestone in focusing our international business on what it does best: providing secure multi-cloud connectivity to large organisations globally,” said Bas Burger, CEO of BT International.
For TNS, the acquisition is a transformative move to bolster its financial markets division. “This is an exciting development for clients of both TNS and Radianz who will now have access to the combined suite of services,” said Tom Lazenga, General Manager of TNS Financial Markets.
A New Era of Competition
The fusion of TNS and Radianz is set to radically alter a complex and highly specialised market. The sector has long been carved up between different types of providers: global community networks like Orange Business Services; hyper-specialised, low-latency providers such as BSO and IPC Systems; and regional powerhouses like Telstra, which leverages its vast infrastructure to dominate key Asia-Pacific trading routes.
The TNS/Radianz acquisition blurs these lines, creating a hybrid powerhouse with the potential to compete across all categories. The deal combines Radianz’s primary strategic asset – its vast, pre-connected global community of financial institutions – with TNS’s established expertise in high-performance, low-latency connectivity and managed services.
This creates a direct and potent challenge to low-latency specialists, as TNS can now offer its high-speed services to the thousands of firms already plugged into the Radianz network. Simultaneously, it puts immense pressure on other global community providers, who now face a rival with a technically advanced and comprehensive service portfolio.
The result is a single entity well-positioned to address the diverse needs of the entire financial markets ecosystem. This unique “one-stop-shop” proposition is expected to trigger a ripple effect, potentially accelerating a trend of consolidation as smaller providers struggle to match the new TNS’s scale. Competitors may be forced to re-evaluate their own strategies, seeking out partnerships or acquisitions to keep pace.
For end-users such as banks, brokers, and trading venues, this heightened competition could ultimately lead to better services, more innovative products, and more competitive pricing as the industry’s giants vie for their share of the newly redrawn map.
While financial terms were not disclosed, the Radianz business generated approximately £142 million in revenue in the 2024/2025 fiscal year. The transaction signals a clear shift in the market, heralding a new competitive dynamic defined by scale, comprehensive service offerings, and a relentless focus on efficiency.
Subscribe to our newsletter